Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Jul 2017 My Price 3.00

inventory goods

1. Where there is evidence that the utility of inventory goods, as part of their disposal in the ordinary course of business, will be less than cost, what is the proper accounting treatment?

2. Explain the rationale for the ceiling and floor in the lower of- cost-or-market method of valuing inventories.

3. Why are inventories valued at the lower-of-cost-or-market? What are the arguments against the use of the LCM method of valuing inventories?

4. What approaches may be employed in applying the lower of- cost-or-market procedure? Which approach is normally used and why?

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jul 2017 08:07 PM My Price 3.00

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